At the moment, shares of Walgreens (WBA) are down $4.50, as CVS sinks $5.75.
Both could still be great shorts at the open on news Amazon is launching an Amazon Pharmacy store that will allow consumers to get their medications delivered to them at home.
“The same browsing experience customers are familiar with from Amazon makes it easy to discover what medications — including branded and generic versions, and different forms or dosages — are available through Amazon Pharmacy,” the company said in a statement, as quoted by MarketWatch.
Reportedly, it will accept most major insurance with the ability to manage orders on site. Plus, according to reports, the company is offering an 80% discount on generic medications, and up to 40% off of brand names.
Keep an eye on CVS and WBA as short opportunities this morning.